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Poker is a family of card games that share betting rules and usually (but not always) hand ranking. Poker games differ in how the cards are dealt, how hands may be formed, whether the high or low hand wins the pot in a showdown (in some games, the pot is split between the high and low hands) limits on bet sizes, and how many rounds of betting are allowed. High Roller Poker room at Mayfair Resort and Spa played host as poker enthusiasts from all over India made their way to beautiful valleys of Sikkim for a 10-day poker extravaganza. In attendance were known high stake players from all over the country. Mr. Phillip Raju, a well known high stake cash player at the Goa poker rooms was one of the first high rollers to arrive. After witnessing the action, he extended his stay as many more high rollers from all over the country joined him for this extravagant Poker festival. In most modern poker games, the first round of betting begins with some form of forced bet by one of the players. In standard poker, each player is betting that the hand he has will be the highest ranked. The action then proceeds clockwise around the table and each player in turn must either match the maximum previous bet or fold, losing the amount bet so far and all further interest in the hand. A player who matches a bet may also "raise," or increase the bet. The betting round ends when all players have either matched the last bet or folded. If all but one player fold on any round, then the remaining player collects the pot and may choose to show or conceal their hand. If more than one player remains in contention after the final betting round, the hands are revealed and the player with the winning hand takes the pot. With the exception of initial forced bets, money is only placed into the pot voluntarily by a player who, at least in theory, rationally believes the bet has positive expected value. Thus, while the outcome of any particular hand significantly involves chance, the long-run expectations of the players are determined by their actions chosen on the basis of probability, psychology and game theory. Online venues, by contrast, are dramatically cheaper because they have much smaller overhead costs. For example, adding another table does not take up valuable space like it would for a brick and mortar casino. Online poker rooms also allow the players to play for low stakes and often offer poker freeroll tournaments (where there is no entry fee), attracting beginners and/or less wealthy clientele. The major online poker sites offer varying features to entice new players. One common feature is to offer tournaments called satellites by which the winners gain entry to real-life poker tournaments. It was through one such tournament on PokerStars that Chris Moneymakerm won his entry to the 2003 World Series of Poker. He went on to win the main event, causing shock in the poker world, and beginning the poker boom. The 2004 World Series featured three times as many players as in 2003. At least four players in the WSOP final table won their entry through an online cardroom. Like Moneymaker, 2004 winner Greg Raymer also won his entry at the PokerStars online cardroom. |
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